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Opportunities in the Global Prepared Meals Sector: Analysis of Opportunities Offered by High Growth Economies
Global Prepared Meals sector was valued at US$83.4 Billion in 2016 and is forecast to record a CAGR of 3.5% during 2016-2021 to reach US$99.1 Billion by 2021. A growing population, rising urbanization rate, and improving economy will remain the primary factors driving the sector globally. Ready Meals represents the largest and the fastest-growing market for Prepared Meals, given their convenience, which allows increasingly busy consumers to enjoy a quick meal at home as opposed to cooking from scratch.
The US represented the largest market for Prepared Meals with a 23.3% share of global value sales in 2016. China emerged as one of the fastest-growing markets for Prepared Meals with a projected CAGR of 9.2% during 2016-2021. Western Europe represented the largest regional market with a value share of 39.5% in the global Prepared Meals sector in 2016, while Asia-Pacific is forecast to record the fastest CAGR of 6.5% during 2016-2021. Other high potential countries identified for 2016-2021 include Brazil, Russia, Italy, Netherlands, Japan, Canada, Poland, and Colombia.
Hypermarkets & Supermarkets was the leading distribution channel for the global Prepared Meals sector, with a value share of 68% in 2016, followed by Convenience Stores, which accounted for 19.7% of value share. Across regions, Hypermarkets & Supermarkets sales lead the distribution of Prepared Meals. In North America, Hypermarkets & Supermarkets accounted for 74.8% of the total Prepared Meals sales in 2016, followed by Asia-Pacific with a value share of 66.9%.
The report "Opportunities in the Global Prepared Meals Sector: Analysis of Opportunities Offered by High Growth Economies" provides a comprehensive overview of the global Prepared Meals sector.
It includes analysis on the following -
- Market overview: Provides an overview of current sector scenario vis-a-vis the future outlook in terms of ingredients, product claims, labelling and packaging. The analysis also covers regional overview across six regions: Asia-Pacific, Middle East & Africa, North America, Latin America, Western Europe, and Eastern Europe; highlighting sector size, growth drivers, latest developments, and future inhibitors for the region.
- Change in consumption: Provides a shift in the consumption of Prepared Meals as compared to other major sectors such as Meat, Bakery & Cereals, Savory Snacks, and Dairy Foods during 2011-2021 at global and regional level.
- High potential countries: Provides Risk-Reward analysis of 50 countries across six regions based on market assessment, economic development, socio-demographic, governance indicators, and technological infrastructure. Out of 50, a total of 10 high potential countries are shortlisted.
- Country and regional analysis: Provides deep-dive analysis of 10 high potential countries covering value growth during 2016-2021, key challenges, consumer demographics, and key trends. It also includes regional analysis covering new product launches in the primary countries and future outlook for the region.
- Health & Wellness analysis: Provides insights on the Health & Wellness products in terms of value and percentage share in the overall Prepared Meals sector at global and regional level during 2011-2021. The analysis includes key Health & Wellness attributes and consumer benefits driving the sales of Prepared Meals across the six regions in 2016. It also covers the market share of leading companies offering Prepared Meals with health and wellness attributes in the same year.
- Competitive landscape: Provides an overview of leading brands at global and regional level, besides analyzing the product profile, country level presence, market share, and growth of private labels in each region.
- Key distribution channels: Provides analysis on the leading distribution channels in the global Prepared Meals sector in 2016. It covers four distribution channels: Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, and Others that include: Cash & Carries and Warehouse Clubs, Dollar Stores', Department Stores, e-Retailers, and General retailers.
- Preferred packaging formats: The report provides percentage share (in 2016) and growth analysis (during 2011-2021) for various packaging materials, container, closure, and outer types based on the volume sales (by pack units) of Prepared Meals.
Companies mentioned in this report: Old El Paso, Kagome, Lean Cuisine, Uncle Ben`s, Santa Maria, DiGiorno, Ristorante, Ito Ham, Red Baron, Die Ofenfrische, Stouffer`s, Amy`s, Marumiya, Lean Cuisine, Frosta.
What else is contained?
- Sector data: Overall alue and volume data with growth analysis for 2011-2021
- Market coverage: Value and growth analysis with inputs on individual category share within each market and the change in their sector share forecast for 2016-2021
- More extensive brand coverage: The report provides more extensive brand share coverage. Brand share data is also validated by inputs from industry experts.
- Distribution channel: The Distribution data included in the report covers 11 distribution channels including Hypermarkets & Supermarkets, Food & Drinks Specialists, Department Stores, Cash & Carries & Warehouse Clubs, "Dollar Stores" and Variety Stores & General Merchandise Retailers.
- Packaging data: consumption breakdown for packaging materials and containers in each category, in terms of percentage share of number of units sold. Packaging material data for Rigid Plastics, Flexible Packaging, Rigid Plastics, Rigid Metal and Paper & Board; container data for: Film, Tray, Tub, Bag/Sachet and others
- Consumer level trends: Top four consumer trends which influence Prepared Meals products consumption
- Future outlook: Reviews and recommendations on how the market will shape up from 2016-2021
- Recommendations for manufacturers on key Prepared Meals categories - Meal Kits, Pizza, and Ready Meals with inputs on individual segment share within each category and the change in their market share forecast for 2016-2021
- Global Prepared Meals sector: Improving global economy, supported by stronger than expected growth revival in advanced economies drives demand for Prepared Meals
- Drivers for a shift in consumption patterns: Changing dietary preferences will impact the value share of Prepared Meals in the food industry
- Asia-Pacific: The region is forecast to become the second largest regional market for the global Prepared Meals sector in value terms
- In Latin America, Colombia and Brazil are set to drive growth in Prepared Meals in value terms
- Eastern Europe is a highly fragmented market with top four brands accounting only for 14.5% of value sales
- Hypermarkets & Supermarkets is the leading distribution channel in the global Prepared Meals sector
- Film is the most commonly used closure type in the global Prepared Meals sector
Reasons to buy
- Identify high potential markets and explore further opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
- Access the key and most influential consumer trends driving Prepared Meals products consumption, and how they influence consumer behavior in the market which will help determine the best audiences to target
- Access to analysis on products launched in the market with Case Examples/Success Stories
- Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion